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Credit Cards

Insurance Added to Credit Card Without Consent

Your bank has added an insurance policy to your credit card — charging a monthly or annual premium — without your explicit written consent. You may have been enrolled automatically or through an opt-out mechanism.

Applies to: All credit card issuing banksRBI/2022-23/128 + IRDA guidelines on bancassurance

⚖️Your Rights Under RBI Regulations

Insurance cannot be bundled with a credit card on an opt-out basis — explicit consent is required.

You can cancel any insurance added without consent and demand full refund of premiums.

A 15-day free-look period applies even to bundled insurance — you can cancel within 15 days of learning about it.

💰 What You Can Recover

Full refund of all insurance premiums charged without consent.

⏱ Response Deadline

30 days for written complaint.

📋Step-by-Step — What to Do

1

Write to the bank's credit card division cancelling the insurance and demanding full premium refund.

2

Cite that no explicit consent was provided and request documentation showing how you were enrolled.

3

File with RBI Ombudsman and IRDA (for the insurance aspect) if refused.

🏛 Where to Escalate If Bank Doesn't Respond

RBI Integrated Ombudsman + IRDA Integrated Grievance Management System (igms.irda.gov.in)

⚖️

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Governing RBI Circular
RBI/2022-23/128 + IRDA guidelines on bancassurance
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